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Zelira (ASX:ZLD) share price falls despite strong trading update




The Zelira Therapeutics Ltd (ASX: ZLD) share price is lower during mid-afternoon trade despite announcing a positive trading update.

At the time of writing, the cannabis company’s shares are fetching for 5.9 cents, down 1.67%.

Q3 FY21 quarterly update

Investors appear unfazed by the company’s latest snapshot, sending Zelira shares slightly in the negative.

According to its release, Zelira delivered a robust performance for the quarter ending 31 March 2021.

Cash receipts including product sales and licensing payment rose to a record $225,000, reflecting a 249% increase on H1 FY21. The strong growth predominately came from the company’s United States launch of its SprinjeneCBD oral care product in December.

Zelira noted that…

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